Taiwan’s FPCC seeks naphtha supply for June delivery via tender

29 April 2013 03:23  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) is seeking by tender spot naphtha supply for delivery to Mailiao in the first half of June, traders said on Monday.

The volumes required by FPCC were not indicated in the tender, they added.

The tender closes later on Monday, traders said.

FPCC previously bought by tender around 100,000 tonnes of spot naphtha supply for delivery to Mailiao in the first half of April. The deals for the cargoes were done at a premium in the low-$20s/tonne (€15/tonne) to Japan quotes CFR (cost & freight).

The company shunned spot naphtha buying for several weeks subsequently, because eroded margins during that period led to cuts in its cracker run rates. 

($1 = €0.77)


By: Felicia Loo



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